Thanks for the reply's and a quick update..... Changed the wheels for a cheep set of clinchers and will get the campy/ mavic tubulars re-spoked for the spring.
I did 40ish miles on Sunday and the rear tub had nearly blown, part of the wall had perished and innertube showing!

Got a front mech fitted yesterday and changed the rear freewheel 6 speed (worn) for a seven speed. If the weather is not too bad in the morning going for a ride round the Lincolnshire wolds javascript:emoticon(':D')

I have now finished restoring my Raleigh 531c race, lots of work done and now looks stuning. Gets loads of comments when I go for a spin.
Now looking to sell as a complete bike or a frameset. New project is on the way .

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